Maine Community Solar: What is Net Energy Billing (NEB)?
Maine organizations can finally receive the benefits of solar power without installing solar on their roof or on their property. Starting in 2020, the State of Maine has made it possible for local solar installations to provide power to businesses, saving them between 10 and 25% on their utility bills. This program is called Net Energy Billing.
1. How Does Net Energy Billing Work?
Overseen by the Maine Public Utilities Commission, Net Energy Billing (NEB) allows businesses and municipalities the chance to receive financial benefits associated with the energy produced by a locally owned and operated solar array. The community aspect of the program means that multiple groups can simultaneously share the benefits from one array, all without having to physically connect to the array or invest in its development.
As the community solar project produces energy, the power enters the grid and is recorded by the local utility. The utility then allocates the financial benefits from the electricity production to each off-takers’ utility bill in the form of a line-item credit.
For instance, if you receive $10,000 worth of credits on your utility bill in the month of August, and you’ve agreed to buy those credits at a 15% discount to their value, your net benefit for the month is $1,500.
2. What Are The Benefits of Community Solar?
By participating in a community solar program, organizations can directly support and receive local renewable energy without installing solar panels on their property. These programs have a long track record of customer satisfaction across the United States, and now organizations in Maine can finally enjoy the same benefits that folks in New York, New Jersey, Connecticut, Massachusetts, and Colorado have used to reduce energy costs and meet sustainability goals. Titan Energy makes sure these agreements are the right fit for your organization and work in conjunction with your competitive electricity contract, allowing for stacked benefits and easy integration
3. Who Is This Program Open To?
The net energy benefit program is open to non-residential ratepayers in Central Maine Power Company, Emera Maine Bangor Hydro district and Emera Maine Public District. In order to receive credits, your organization must be located within the same utility territory as the community solar project to which you subscribe. Each solar developer has specific customer criteria that Titan Energy will help you navigate, including credit rating requirement, usage, minimum offtake, and utility rate class assignment. We take all factors into consideration before matching you with the right developer.
4. Types of Financial Products Available
Different solar developers offer different products. Businesses need to understand the full picture of their energy management strategy before jumping into a contract. Here, our team will explore the different types of programs.
5. How Titan Energy Helps You Navigate Maine NEB Options
With 20 years of energy procurement experience, Titan Energy helps businesses cut through the complexity of community solar markets with customized, creative energy solutions. Titan is not a solar developer. We act on behalf of clients to use our commodities management and bid administration expertise to help our clients secure the best commercial community solar terms with a reputable developer. We also remain on-call throughout the contract to measure and verify your organization is receiving what you were promised.